ISO Updates Businessowners Program Coverage Form

October 23, 2012

ISO has made revisions to its businessowners (BOP) product with many coverage enhancements to the form, including:

  • Broader Debris Removal Additional Coverage to include the removal of debris of the property of others and to increase the debris removal limit of insurance from $10,000 to $25,000
  • Increase of the extended business income number of days coverage from 30 to 60 days
  • New coverage extension applicable to business personal property temporarily stored in portable storage units, subject to a $10,000 limit of insurance (with higher limits available)
  • Updated various policy provisions to complement similar revisions made to the ISO commercial property and commercial general liability insurance programs

Some of the newly introduced optional endorsements for use with the ISO BOP Program include:

  • Specified business personal property temporarily away from premises
  • Increase in rebuilding expenses following disaster
  • Liquor liability coverage – “bring your own alcohol” establishments

Additionally, ISO is introducing a series of class-specific endorsements addressing the specialized coverage needs of photographers, including an endorsement providing makeup and hairstyling coverage and another that provides worldwide coverage for photography equipment.

The Businessowners Program revision has been approved by regulators in 33 jurisdictions and is pending in 10 more. The program updates submitted in the ISO filings will be available for insurer use beginning in July 2013.

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